Bharat Forge is planning to purchase 49% stake in its subsidiary - Kalyani Strategic Systems (KSSL). Since KSSL holds Industrial License under the Arms Act, 1959 read with the Arms Rules, 2016, the said acquisition of shares shall be subject to prior approval of Ministry of Home Affairs / Department for Promotion of Industry and Internal Trade.
Currently the Company holds 51% stake in KSSL. After this acquisition, KSSL shall become a wholly owned subsidiary of the Company. KSSL is the holding Company for the defence vertical of Bharat Forge Group. This acquisition shall result in making it the wholly owned subsidiary of the Company which shall enable it to be eligible for participating in various defence programs.
Bharat Forge is engaged in manufacturing of close die and open die forging, crankshafts, front axle beams, steering knuckle, connecting rods, rocker arm and many more components.
